Step Away from the Tax Refund and Nobody Gets Hurt.

What you really need to do with your tax refund.

Money Magazine recently asked me the best way someone should spend their tax refund. I immediately told them that they should go out and buy a new TV.

Oh, come on! You know me better than that.

Here’s what I really said.

Whether your refund is in the thousands or hundreds, the urge to spend the funds might instantly become overwhelming. Maybe you already had an idea of what you want to spend the money on and you’re all set to hand over your refund for it. Or, maybe the money means you finally have enough to make a large purchase you’d otherwise need to save for.

“People often look at their tax refund as found money like lottery winnings or inheritance. The temptation to spend surprise money on something fun or frivolous is strong,” says Denver, Colo.-based Certified Financial Planner Kristi Sullivan.

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DISCLOSURE: The information on this website is for general informational purposes only and is subject to change. This website does not represent a solicitation or offer to buy or sell securities. Further, it does not represent an offer to provide investment advisory services in states where I have not filed notice or where I do not have an exemption or exclusion from filing notice. Although the information on this site is gathered from sources assumed to be reliable, Sullivan Financial Planning, LLC, is not responsible for the accuracy of content on linked websites or in articles provided. Past performance of investments is not a guarantee of future results.